Summary
BEL V has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show a net result of €2.4m. Equity is growing by about 8.5% per year across the filed financial years. Its net result ranks better than 95% of 321 sector peers (NACE 94, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, abbreviated format
In the rankings
#4 employer in Anderlecht, Other services sector#6 company by total assets in Anderlecht, Other services sector
Turnover
€17.5m▲ 9.4%
2024 · €16.0m
EBIT margin
12.9%▲ 5.2pp
2024 · 7.7%
Net result
€2.4m▲ 72.2%
2024 · €1.4m
Working capital
€15.5m▲ 18.2%
2024 · €13.1m
Trend over the years
2018 to 2025, 5 financial years 2018 to 2025, 5 financial years
The operating result recovers in 2025; 2025 is 83% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€17.5m
2025
Operating result€2.3m
2025
Net result€2.4m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€22.0m
2025
Equity€17.0m
2024
Debt€2.7m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€15.5m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin12.9%
2025
Return on assets (ROA)10.7%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency85.6%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio6.77
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)81.1
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 94, Activities of membership organisations: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182021202320242025
Turnover€13.3m-€12.9m-€15.9m-€16.0m▲ 0.9%€17.5m▲ 9.4%
Operating result€0.3m-€0.6m-€1.7m-€1.2m▼ 28.5%€2.3m▲ 82.8%
Net result€0.3m-€0.6mabove the sector's middle half-€1.8mabove the sector's middle half-€1.4mabove the sector's middle half▼ 25.2%€2.4mabove the sector's middle half▲ 72.2%
EBIT margin2.4%-4.6%-10.9%-7.7%▼ 3.2pp12.9%▲ 5.2pp
Equity€10.4m-€13.3mabove the sector's middle half-€15.6mabove the sector's middle half-€17.0mabove the sector's middle half▲ 8.8%
Total assets€12.2m-€15.9mabove the sector's middle half-€18.5mabove the sector's middle half-€19.8mabove the sector's middle half▲ 7.1%€22.0mabove the sector's middle half▲ 11.0%
Debt€1.7m-€2.7m-€2.9m-€2.9m▼ 1.8%€2.7m▼ 6.0%
Working capital€5.8m-€8.9mabove the sector's middle half-€11.6mabove the sector's middle half-€13.1mabove the sector's middle half▲ 13.0%€15.5mabove the sector's middle half▲ 18.2%
Solvency85.8%-83.2%within the sector's middle half-84.3%within the sector's middle half-85.6%within the sector's middle half▲ 1.3pp
Current ratio4.36-4.34within the sector's middle half-4.99within the sector's middle half-5.59within the sector's middle half▲ 0.606.77within the sector's middle half▲ 1.18
Return on assets (ROA)2.6%-3.6%within the sector's middle half-9.9%above the sector's middle half-6.9%above the sector's middle half▼ 3.0pp10.7%above the sector's middle half▲ 3.8pp
Staff (FTE)82.4-78.9above the sector's middle half-78.3above the sector's middle half-79.6above the sector's middle half▲ 1.7%81.1above the sector's middle half▲ 1.9%
above
within
below
the middle half of NACE 94, Activities of membership organisations: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €22.0m
Fixed assets
€3.8m ▼ 0.9%
Current assets
€18.2m ▲ 13.9%
Key figures and ratios
EBITDA
€2.6m▲
2024 · €1.5m
Cash flow
€2.7m▲
2024 · €1.7m
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€2.7m▼
2024 · €2.9m
Income taxes
€41,970▼
2024 · €57,871
Staff costs
€12.7m▲
2024 · €12.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €13.2m | €16.1m | €16.4m | €17.9m | ▲ 8.7% |
| Turnover70 | €13.3m | €12.9m | €15.9m | €16.0m | €17.5m | ▲ 9.4% |
| Other operating income74 | - | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 19.0% |
| Operating charges60/66A | - | €12.6m | €14.4m | €15.2m | €15.6m | ▲ 2.7% |
| Services and other goods61 | - | €1.5m | €2.1m | €2.4m | €2.4m | ▲ 1.9% |
| Remuneration, social security and pensions62 | - | €10.7m | €11.8m | €12.3m | €12.7m | ▲ 2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 10.7% |
| Other operating charges640/8 | - | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 1.9% |
| Operating profit (loss)9901 | €0.3m | €0.6m | €1.7m | €1.2m | €2.3m | ▲ 82.8% |
| Financial income75/76B | - | - | €0.2m | - | - | - |
| Recurring financial income75 | €156 | €0.001m | €0.2m | €0.2m | €0.1m | ▼ 29.2% |
| Income from current assets751 | - | €0.001m | €0.2m | €0.2m | €0.1m | ▼ 28.2% |
| Other financial income752/9 | - | €21 | €8 | €0.003m | €2 | ▼ 99.9% |
| Financial charges65/66B | - | €0.02m | €0.01m | €0.01m | €0.006m | ▼ 40.3% |
| Recurring financial charges65 | €0.007m | €0.02m | €0.01m | €0.01m | €0.006m | ▼ 40.3% |
| Debt charges650 | - | €161 | - | - | - | - |
| Other financial charges652/9 | - | €0.02m | €0.01m | €0.01m | €0.006m | ▼ 40.3% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.6m | €1.9m | €1.4m | €2.4m | ▲ 68.1% |
| Income taxes67/77 | - | - | €0.05m | €0.06m | €0.04m | ▼ 27.5% |
| Taxes670/3 | - | - | €0.05m | €0.06m | €0.04m | ▼ 27.5% |
| Profit (loss) for the period9904 | €0.3m | €0.6m | €1.8m | €1.4m | €2.4m | ▲ 72.2% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.6m | €1.8m | €1.4m | €2.4m | ▲ 72.2% |
| Line | 2018 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.2m | €15.9m | €18.5m | €19.8m | €22.0m | ▲ 11.0% |
| Fixed assets21/28 | €4.6m | €4.3m | €4.0m | €3.8m | €3.8m | ▼ 0.9% |
| Intangible fixed assets21 | €0.05m | - | €0.01m | €0.01m | €0.01m | ▼ 13.6% |
| Tangible fixed assets22/27 | €4.6m | €4.3m | €4.0m | €3.8m | €3.8m | ▼ 0.8% |
| Land and buildings22 | - | €3.8m | €3.5m | €3.3m | €3.2m | ▼ 4.9% |
| Plant, machinery and equipment23 | - | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 10.1% |
| Furniture and vehicles24 | - | €0.1m | €0.08m | €0.1m | €0.3m | ▲ 120% |
| Assets under construction and advance payments27 | - | - | €0.04m | €0 | €0.01m | - |
| Financial fixed assets28 | €0.002m | €0.002m | €0.002m | €480 | €480 | = |
| Other financial fixed assets284/8 | - | €0.002m | €0.002m | €480 | €480 | = |
| Amounts receivable and cash guarantees285/8 | - | €0.002m | €0.002m | €480 | €480 | = |
| Current assets29/58 | €7.5m | €11.6m | €14.5m | €16.0m | €18.2m | ▲ 13.9% |
| Amounts receivable within one year40/41 | €3.8m | €3.3m | €4.0m | €3.4m | €3.8m | ▲ 11.4% |
| Trade receivables40 | - | €3.2m | €4.0m | €3.3m | €3.7m | ▲ 9.9% |
| Other amounts receivable41 | - | €0.1m | €0.06m | €0.05m | €0.1m | ▲ 105% |
| Current investments50/53 | - | - | - | €0 | - | - |
| Cash at bank and in hand54/58 | €3.6m | €8.1m | €10.3m | €12.4m | €14.3m | ▲ 15.3% |
| Deferred charges and accrued income490/1 | - | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 29.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.2m | €15.9m | €18.5m | €19.8m | €22.0m | ▲ 11.0% |
| Equity10/15 | €10.4m | €13.3m | €15.6m | €17.0m | - | - |
| Contributions10/11 | - | €4.7m | €4.7m | €4.7m | €4.7m | = |
| Capital10 | - | €4.7m | €4.7m | €4.7m | €4.7m | = |
| Reserves13 | - | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Profit (loss) carried forward14 | €2.8m | €5.7m | €8.0m | €9.4m | €11.7m | ▲ 25.1% |
| Amounts payable17/49 | €1.7m | €2.7m | €2.9m | €2.9m | - | - |
| Amounts payable within one year42/48 | €1.7m | €2.7m | €2.9m | €2.9m | €2.7m | ▼ 5.9% |
| Trade debts44 | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 30.3% |
| Suppliers440/4 | - | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 30.3% |
| Advances received on contracts in progress46 | - | €0.2m | €0.3m | €0.2m | €0.1m | ▼ 39.9% |
| Taxes, remuneration and social security45 | - | €2.0m | €2.3m | €2.2m | €2.3m | ▲ 1.8% |
| Taxes450/3 | - | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 3.8% |
| Remuneration and social security454/9 | - | €1.6m | €1.8m | €1.8m | €1.8m | ▲ 1.3% |
| Accrued charges and deferred income492/3 | - | €0.004m | €0.001m | €0.001m | €0.001m | ▼ 20.9% |
| Line | 2018 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.6m | €1.8m | €1.4m | €2.4m | ▲ 72.2% |
| + Depreciation and write-downs630 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 10.7% |
| Operating cash flow (approximation) | €0.6m | €0.9m | €2.1m | €1.7m | €2.7m | ▲ 61.3% |
| Investment in fixed assets (approximation) | - | - | - | -€0.2m | -€0.3m | ▼ 87.5% |
| Change in cash | - | - | - | €2.1m | €1.9m | ▼ 10.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-06-2026 | 2026-00189086 |
| 31-12-2024 | abbreviated format | 03-07-2025 | 2025-00239683 |
| 31-12-2023 | abbreviated format | 02-07-2024 | 2024-00208528 |
| 31-12-2022 | abbreviated format | 20-06-2023 | 2023-00148597 |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20132211 |
| 31-12-2020 | abbreviated format | 30-06-2021 | 2021-28700189 |
| 31-12-2019 | abbreviated format | 09-07-2020 | 2020-27700022 |
| 31-12-2018 | abbreviated format | 02-07-2019 | 2019-26200505 |
| 31-12-2017 | abbreviated format | 13-06-2018 | 2018-17700125 |
| 31-12-2016 | abbreviated format | 15-06-2017 | 2017-17500462 |
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Of the 478 active companies whose main activity is activities of membership organisations (NACE 94994), figures are known for 138. 60 are within a factor 10 of this headcount. These 5 are the closest to it. See the whole sector
Subsidies and aid
European Union, budget
2021 to 2025 · 17 entries · €2.2m in total| Year | Entries | Awarded |
|---|---|---|
| 2025 | 4 | €313,599 |
| 2024 | 5 | €482,818 |
| 2023 | 2 | €391,125 |
| 2022 | 5 | €725,999 |
| 2021 | 1 | €239,000 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.